Prior to any payment being made, every depositor will be required to provide original evidence of deposit ownership, such as a passbook, certificate of deposit, or the last statement (with paid cheques if applicable), and fill out an official claim form. DIC officials can assist with the filing of claims. Passbooks, certificates of deposit and other documents used to establish the claim for insurance must be surrendered on receipt of the deposit insurance payment.
Frequently Asked Questions
- What is a Liquidator’s certificate?
- What does a deposit transfer involve?
- Will shareholders of an institution receive any part of their investment before depositors’ claims are satisfied?
- If two or more persons, for example a husband and wife, have, in addition to the individually owned accounts of each, a valid joint account in the same insured institution, is each account separately insured?
Did You Know?
- Misconception: Deposit insurance can be claimed while the member institution is still continuing in operation. - Fact: Deposit insurance is ONLY activated upon closure of a member institution.
